Avoidance of Double Taxation agreement-Seychelles, Kuwait start talks |13 May 2005

This agreement shall apply to taxes on income and on capital for residents of both Kuwait and Seychelles, says a communiqué from the Department of Finance.

The Kuwaiti delegation was led by Mr Ali Metairef from the Tax liability and Planning Department of the Kuwaiti Ministry of Finance, and the Seychelles delegation comprised senior officers from the Department of Finance, the Seychelles International Business Authority, the Ministry of Foreign Affairs and the Seychelles Investment Bureau.

The agreement was initialed on behalf of Seychelles by Ambassador Claude Morel, principal secretary of the Ministry of Foreign Affairs and by Mr Ali Metairef on behalf of Kuwait.

The second round of negotiations to hopefully finalise the agreement is proposed to take place in Kuwait in the second quarter of 2005.

According to the Department of Finance communiqué the Kuwait Government has also shown keen interest to negotiate a Bilateral Investment Promotion and Protection Agreement.